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Oil prices may drop under $100 as jobs report spooks market

GasBuddy Blog -- The latest jobs report came out last week, but because of Good Friday, the market hasn't yet had the chance to react accordingly. Today is the first day since the release of the report that stocks and commodity trading is open- and it's looking like the report may just have sent more fear back in to the market.

Oil prices are down near $100 per barrel, and if things continue, oil may even drop under that magic triple digit level, which could possibly lead to further a sell-off as technical barriers are broken. Gasoline futures are also down to start the week, continuing last week's sell off after the Energy Information Administration report that showed refineries boosting utilization earlier than expected amid a 9 million barrel rise...


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Submitted Apr 09, 2012 By: PD
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Author Topic: Oil prices may drop under $100 as jobs report spooks market Back to Topics
REPLIES (newest first) Post a Reply
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albert2008
Champion Author Winnipeg

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Message Posted: Apr 18, 2012 9:01:09 AM

hope so
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rjhenn
Champion Author Des Moines

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Message Posted: Apr 17, 2012 7:36:23 PM

Depends on whether the spooking is on the supply side or the demand side.
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heydano67
Champion Author California

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Message Posted: Apr 17, 2012 5:09:26 PM

Usually when the market gets spooked it heads upwards.
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phil69692012
Rookie Author Chicago

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Message Posted: Apr 17, 2012 10:54:07 AM

under 4 bucks would be great
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Donatelo
Champion Author Dayton

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Message Posted: Apr 17, 2012 10:42:10 AM

k
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albert2008
Champion Author Winnipeg

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Message Posted: Apr 17, 2012 9:03:36 AM

hurry up and drop
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cleangasprices
Veteran Author Vancouver

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Message Posted: Apr 16, 2012 7:41:50 PM

wonder what the outcome will be
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gawxnative
All-Star Author Atlanta

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Message Posted: Apr 16, 2012 3:32:56 PM

Wait and see
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honda0105
Champion Author Tallahassee

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Message Posted: Apr 14, 2012 8:36:18 AM

pump prices for reg. unleaded (87) went down by 5 cents at some stations in the past 2 days. Diesel still at 4.15 - 4.29.
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drpepperTX
Champion Author Texas

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Message Posted: Apr 13, 2012 3:52:05 PM

As of 2:51 p.m. CST

Dated Brent Spot 121.43 -0.33 -0.27% 15:43
WTI Cushing Spot 102.92 -0.72 -0.69% 14:08
Nymex RBOB Gasoline Future 335.21 -0.46 -0.14% 15:31
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rjhenn
Champion Author Des Moines

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Message Posted: Apr 13, 2012 2:58:27 PM

Yet gas prices went up 13ยข a gallon here last night.
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Donatelo
Champion Author Dayton

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Message Posted: Apr 13, 2012 9:58:10 AM

k
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drpepperTX
Champion Author Texas

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Message Posted: Apr 13, 2012 9:36:55 AM

As of this morning:GASOLINE RBOB FUT (USD/GAL.) 334.50 -1.17
(-0.35%) 09:23
WTI CRUDE FUTURE (USD/BBL.) 103.19 -0.45
(-0.44%) 09:22
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albert2008
Champion Author Winnipeg

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Message Posted: Apr 13, 2012 9:10:28 AM

as long as gas prices drop to
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honda0105
Champion Author Tallahassee

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Message Posted: Apr 13, 2012 6:03:21 AM

anything to make the market move by the media (and yes, I consider Patrick DeHaan also part of the media). Except, it didn't work this time, did it?
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KAR120CSII
Champion Author Oregon

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Message Posted: Apr 12, 2012 8:17:31 PM

A week later oil a$t $101.29 -- still above the $100. Gas prices still high.
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albert2008
Champion Author Winnipeg

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Message Posted: Apr 12, 2012 9:05:04 AM

hope so
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cleangasprices
Veteran Author Vancouver

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Message Posted: Apr 12, 2012 5:18:10 AM

As the demand grows, don't think it would drop
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cleangasprices
Veteran Author Vancouver

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Message Posted: Apr 12, 2012 5:16:50 AM

It drops 3 cents, then up 5 cents
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dnjk5
Rookie Author Lancaster

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Message Posted: Apr 11, 2012 7:47:24 PM

ok
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sparky808
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Message Posted: Apr 11, 2012 1:37:47 PM

Thank you for posting.
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Donatelo
Champion Author Dayton

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Message Posted: Apr 11, 2012 1:26:15 PM

k
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puinsai808
Champion Author Honolulu

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Message Posted: Apr 11, 2012 10:10:27 AM

Hasn't broken the $100 yet.
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albert2008
Champion Author Winnipeg

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Message Posted: Apr 11, 2012 8:56:34 AM

bu when are the gas prices going to fall
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brols25
Rookie Author Illinois

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Message Posted: Apr 11, 2012 7:52:22 AM

good
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RR52DE
Champion Author Delaware

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Message Posted: Apr 11, 2012 7:34:16 AM

Starting to see a drop ! Yea
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Digger52
Champion Author Chicago

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Message Posted: Apr 10, 2012 9:44:27 PM

Right.. . .
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Fhuang66
Champion Author Cleveland

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Message Posted: Apr 10, 2012 3:29:09 PM

Wait and see.
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DeeLA
Champion Author Los Angeles

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Message Posted: Apr 10, 2012 2:20:28 PM

Old news. I commented on this article yesterday.
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humblepie
Champion Author Toledo

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Message Posted: Apr 10, 2012 2:16:28 PM

not today
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ttab1
Rookie Author Buffalo

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Message Posted: Apr 10, 2012 2:13:05 PM

And prices continue to rise at the pump here. Up another $.05 to $4.10
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ciimike
Champion Author Nevada

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Message Posted: Apr 10, 2012 2:11:01 PM

One can hope, but I don't think I will hold my breathe. Speculators will find some reason to cause prices to raise.
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dwbuddy
Champion Author Fort Worth

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Message Posted: Apr 10, 2012 2:09:41 PM

really? Hope so
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SUPERQUACK
Champion Author Sacramento

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Message Posted: Apr 10, 2012 2:08:12 PM

DOUBT IT
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TopGunn
Champion Author Baltimore

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Message Posted: Apr 10, 2012 2:07:38 PM

Retail doesn't know it.
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CYSWXMAN
Champion Author Wyoming

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Message Posted: Apr 10, 2012 2:07:21 PM

Why is it when oil was $100 a barrel last time gasoline was about $2.70 a gallon, but now its almost $4.00!!?
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RoLleRKoaSTeR
Champion Author Louisville

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Message Posted: Apr 10, 2012 1:59:59 PM

Gas prices only going down pennies per week here.
Expecting another 20 cent spike by Thursday because Marathon/Speedway can.
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repeater1
Champion Author Topeka

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Message Posted: Apr 10, 2012 1:57:21 PM

Can't go down soon enough, just hope we see some relief at the pump.
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suportoffroad00
Champion Author Wisconsin

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Message Posted: Apr 10, 2012 1:54:51 PM

Gas prices will still go up since we are going into summer. Then they will say need to change over for winter and prices will go up yet again.
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waynemustang
Champion Author Indiana

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Message Posted: Apr 10, 2012 1:54:27 PM

We must get and refine domestic oil to keep prices down.
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OldSwimmer1650
All-Star Author Orange County

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Message Posted: Apr 10, 2012 1:54:21 PM

13:46 est
WTI Crude Oil $101.09 down 1.37
Brent Crude Oil $120.28 down 2.39
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seahawks
Champion Author Washington

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Message Posted: Apr 10, 2012 1:52:15 PM

but fuel prices will continue upwards this summer!!!
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SpankyMI
Champion Author Kalamazoo

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Message Posted: Apr 10, 2012 1:51:33 PM

I am rooting for less than $50 a barrel.
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idigau22
Champion Author Washington

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Message Posted: Apr 10, 2012 1:50:02 PM

Better rethink this report! Oil is UP to $101.65 this morning!!

The stock market is DOWN 169 Points!!

Round and Round It Goes! Where It Stops Nobody Knows!!!!
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bobsalwaysmt
Champion Author Long Island

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Message Posted: Apr 10, 2012 1:49:17 PM

Something nefarious is going on - Yesterday until about 2:00 pm prices on Long Island were posting lows of $3.79 of an hour or 2 old up to 12 hours old (nearly the entire "low" page). By 4:30, there were only 2 or 3 stations at that price and by 6:30 there were none, the lowest post was $3.99. How do prices over an entire area change so dramatically in such a short time? On my way to work around 7:00 AM I saw 2 stations advertising 3.79; both were over $4.00 on my way home less than 12 hours later.

There is no good reason for this to happen. There is plenty of reason for the illusory recovery to be spooking the market.

Fire Obama!

Recall Congress!!
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rbrowdersr
Champion Author Detroit

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Message Posted: Apr 10, 2012 1:48:10 PM

Wait and see if pump prices drop.
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pkrpro
Champion Author San Bernardino

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Message Posted: Apr 10, 2012 1:41:02 PM

gas has dropped to about 4.15-4.20 here in So CA
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sammynorge
Champion Author Columbus

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Message Posted: Apr 10, 2012 1:39:13 PM

They jerked it up for Easter, like they do for all holidays, like they've done for decades.
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alchulito
All-Star Author New York

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Message Posted: Apr 10, 2012 1:38:58 PM

We'll see
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dacofa
Champion Author Nevada

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Message Posted: Apr 10, 2012 1:38:22 PM

You mean as the truth comes out about the lack of jobs!
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